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GenOn Energy filed with the U.S. Bankruptcy Court a notice detailing the amendment and extension of its letter of credit facility (“the Citi LC Facility”). The amendment notes, “The Court entered the Final Order (I) Authorizing the Debtors’ Continued Performance Under Intercompany Arrangements, (II) Authorizing the Debtors to Continue Ordinary Course Operations and Related Financing, and (III) Granting Related Relief [Docket No. 254] (the ‘Order’) authorizing the Debtors to, among other things, enter into the Citi LC Facility in an amount up to $300,000,000, the term of which is currently set to expire on July 14, 2018. The Debtors have entered into an amendment to the Citi LC Facility, Exhibit A, that: (a) reduces the size of the Citi LC Facility to $150,000,000; (b) extends the term of the Citi LC Facility for six months through January 14, 2019; and (c) provides for the Debtors to pay less than proportionate additional structuring fees in exchange for such extension. All other terms of the Citi LC Facility will remain the same.”
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